York Water (NASDAQ:YORW) Share Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• York Water shares fell below their 50-day moving average, trading as low as $31.67 and last at $31.71, versus the average of $31.85.
• Analyst views were mixed: Huntington initiated coverage with a Strong Buy rating, while Weiss Ratings maintained Hold. MarketBeat reported a consensus Buy rating and an average price target of $31.
• The company beat quarterly estimates, reporting EPS of $0.48 versus $0.47 expected and revenue of $24.33 million versus $22.60 million expected. York Water’s annualized dividend is $0.91 per share, a yield of about 2.9%.

Shares of The York Water Company (NASDAQ:YORW - Get Free Report) crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $31.85 and traded as low as $31.67. York Water shares last traded at $31.71, with a volume of 96,254 shares trading hands.

Wall Street Analyst Weigh In

YORW has been the subject of a number of analyst reports. Huntington began coverage on York Water in a research report on Monday. They set a "strong-buy" rating for the company. Cantor Fitzgerald set a $31.00 target price on York Water in a report on Monday, August 10th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of York Water in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $31.00.

York Water Price Performance

The business's 50 day moving average is $31.85 and its two-hundred day moving average is $31.40. The firm has a market cap of $514.97 million, a P/E ratio of 19.10 and a beta of 0.52. The company has a quick ratio of 0.88, a current ratio of 1.05 and a debt-to-equity ratio of 0.64.

York Water (NASDAQ:YORW - Get Free Report) last released its earnings results on Friday, November 6th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $24.33 million for the quarter, compared to analyst estimates of $22.60 million. York Water had a net margin of 29.07% and a return on equity of 9.81%.

York Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.2280 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.91 annualized dividend and a dividend yield of 2.9%. York Water's dividend payout ratio (DPR) is 54.82%.

Insider Transactions at York Water

In related news, CEO Joseph Hand sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the sale, the chief executive officer owned 35,308 shares of the company's stock, valued at $1,175,050.24. This trade represents a 18.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David M. Velazquez bought 1,288 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The shares were acquired at an average cost of $31.07 per share, with a total value of $40,018.16. Following the purchase, the director directly owned 1,288 shares of the company's stock, valued at $40,018.16. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,410 shares of company stock worth $44,024 over the last three months. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On York Water

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of York Water during the 2nd quarter worth approximately $39,283,000. Legal & General Group Plc acquired a new position in shares of York Water during the 2nd quarter valued at $9,859,000. Bank of New York Mellon Corp acquired a new position in shares of York Water during the 2nd quarter valued at $4,714,000. Renaissance Technologies LLC boosted its stake in York Water by 80.8% during the first quarter. Renaissance Technologies LLC now owns 204,036 shares of the utilities provider's stock worth $6,213,000 after acquiring an additional 91,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in York Water by 36.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 326,730 shares of the utilities provider's stock worth $9,949,000 after acquiring an additional 86,917 shares in the last quarter. 49.86% of the stock is currently owned by institutional investors.

York Water Company Profile

The York Water Company is an investor-owned utility that provides water and wastewater services in south-central Pennsylvania. Its water operations include collecting, treating and distributing water to residential, commercial and industrial customers. The company also provides wastewater collection and treatment services. Its service area is centered in York County and extends into parts of neighboring counties. Founded in 1816, York Water is widely recognized as one of the oldest investor-owned water utilities in the United States.

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